Looking for a credit expert, help please.

dsb · 16 May 2011 at 21:04

I wanted to get something on finance today but was rejected, so i have logged onto credit expert, everything looks fine to me except this one which is a red 8. I have no idea what it is and for £17 im quite pee'd off, my score is in the poor rating 682 points.

TD
Account type: Communications
Started: 01/12/2004
Default Balance : £17
Current Balance : £17
Defaulted On : 10/08/2005
File Updated for the Period to: 17/02/2008
Status history: (a red 8)
Note:
A defaulted account is removed from your report after six years whether or
not you have paid the debt in full. If you have paid some of the debt off, the
balance should show how much you still owe.

Can this one thing ruin your score and if I sort it will it sort my credit score out?

Seft · 16 May 2011 at 21:27

This looks like a phone bill that you never paid. Assuming that this was a bill that you never paid it will damage your ability to get credit - you're essentially on record having used a service and not paid for it.

If the item is a mistake, you can contact the credit bureau to have it removed. It's worth checking the other bureaux (the three are Experian, Equifax and Callcredit) as it might be held in their systems too.

dsb · 16 May 2011 at 21:38

Seft said:
This looks like a phone bill that you never paid. Assuming that this was a bill that you never paid it will damage your ability to get credit - you're essentially on record having used a service and not paid for it.

If the item is a mistake, you can contact the credit bureau to have it removed. It's worth checking the other bureaux (the three are Experian, Equifax and Callcredit) as it might be held in their systems too.

Thanks.

The wife thinks it may be related to a 3 mobile contract we had as they collected for them according to the internet. I know that for £17 I would have paid it. But if its a mistake I have made, if I was to call and pay it can it be removed or am I stuffed for another 3 years with this sat on my record?

Seft · 16 May 2011 at 21:46

dsb said:
Thanks.

The wife thinks it may be related to a 3 mobile contract we had as they collected for them according to the internet. I know that for £17 I would have paid it. But if its a mistake I have made, if I was to call and pay it can it be removed or am I stuffed for another 3 years with this sat on my record?

It's hard to say, unfortunately, as it depends on the circumstances. Probably best to write to Three and ask for more information.

Xelene · 16 May 2011 at 21:51

Defaulted On : 10/08/2005
A defaulted account is removed from your report after six years whether or
not you have paid the debt in full.

If you pay it, it will show as a satisfied default and you can put a note on the account for a human to read mitigating circumstances. Humans don't grant credit usually, so likely "computer says no"

It will fall off your record in a couple of months, the defaulted date is the key. Contacting whoever it is may reset the time on the entry. I've got the same thing with bloody T-Mobile on mine.

dsb · 16 May 2011 at 21:53

So angry at the moment its unreal. Not a single default other than this.

dsb · 16 May 2011 at 21:54

sldsmkd said:
Defaulted On : 10/08/2005
A defaulted account is removed from your report after six years whether or
not you have paid the debt in full.

If you pay it, it will show as a satisfied default and you can put a note on the account for a human to read mitigating circumstances. Humans don't grant credit usually, so likely "computer says no"

It will fall off your record in a couple of months, the defaulted date is the key. Contacting whoever it is may reset the time on the entry. I've got the same thing with bloody T-Mobile on mine.

Thats great if so, you sure i can disregard the 2008 date?

Wynthorpe · 16 May 2011 at 21:56

I also had something on my CF from 3 mobile from 2004, that was for £22 and it came from the end of a contract for which a payment was never taken or any letters sent, i found about it last year but decided to leave it as was close to becoming statute barred and being removed from my credit file, sure enough it disapeared.

BDEE · 16 May 2011 at 22:03

It shows as "Satisfied" rather than outstanding once paid, but will still remain on there for six years.

However, when making credit decisions, "we" (my employers) apply common sense and something like this, whilst initially would be chucked out by our scoring system, would go through, with it being an isolated item for such a small amount, as long as there was an explanation.

It is worth paying it off, getting confirmation, then going back to the supplier and explaining that it was a genuine error and you have put it right straight away upon realising what happened.